Record profits and soaring gas prices, I dont get it

[Soriak]

Originally Posted by rinthea

So bin ladins behind it all!

But seriously, heres the latest on 'curbing the speculators'. Looks like they've got it wrong and are looking to fuck things up royally. It would be funny if it wasnt so sad.

European politicians look to obscure article to curb speculators - Telegraph

Oh, I have no doubt they'd manage to fuck it up beyond anything the US Congress could dream of, but maybe infighting will keep them from messing up anything big. The house of representatives is like the yacht club compared to the bleachers known as the EU parliament. (youtube knows)

edit: here's one:



Not surprising though, the one time you see unity is when it's time to raise wages. EU parliamentarians come in at over $240,000/year for what amounts to a part-time job. And those are the people ranting against the "evil capitalists" - you'd think their voters would see the irony. Good for them that they keep finding ways to avoid referendums, but one hopes their luck runs out eventually. They need to get back to their roots as a unified trading zone and expand that globally.

Ah well, just as long as they're busy with something other than Swiss banking secrecy. Defending it against the US is hard enough

[rinthea]

With these sorts of things and the opposite needs of different countries in the EU, it looks as if its only a matter of time before it folds. Business is going to start leaving in droves. That rate rise could spell the end.

I dont know what to make of the markets reaction to the UBS statement. It appears to be a stop the decline 'hand holding' announcement. I'm skeptical, considering it was expected to be announced on July 1 and the news is 'not terrible' at best.

[spronk]

Europe has fallen into the same position USA was in after WW1 & 2, being in the right place at the right time. Russia is a huge trading partner with Europe (right next door and all that) and has tons of new money coming in. The insanely huge growing middle class in Asia is very status-minded and the demand for luxury goods is extremely high - and Europe is viewed as the keeper of luxury goods, not America (wut Walmart isn't high end? haha). Vacationing & PhD-level emigration is easier to Europe than America now. The collapse of the dollar has sent passive investing into oil and Euros.

A deft set of moves by US politicians - strong dollar government stance, balance the budgets, make America more welcoming of tourists & researchers - would fix a lot of things, but none of these are probably going to occur for years.

[Khorum]

Someone I know predicted that an rising star of the EU economic sphere would one day outgrow the nanny-state impediments that have insinuated itself into the Lisbon Process thanks to France and secede from the Union. Ireland looks determined to fulfill that prediction.